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2 months ago | 
ionanalytics.com | Jay Antenen |Ben Miller |Danielle Saba
Japanese investment firm ORIX Group is in talks to back Hilco Global to help support the financial services business’s growth ambitions, said two sources familiar with the matter. Orix is expected to pay out over USD 1bn over several years to senior Hilco executives as part of the deal, the sources said.
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Oct 29, 2024 | 
ionanalytics.com | Lavanya Nair |Kunyi Yang |Jay Antenen |Madalina Iacob
News (Intelligence) Walgreens Boots Alliance has enlisted Fried Frank as legal counsel and AlixPartners as advisor as the pharmacy giant continues to right size its US operations and address its majority stake in primary and urgent care provider Village Practice Management Company (VillageMD), according to two sources familiar with the matter.
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Aug 30, 2024 | 
ionanalytics.com | Jay Antenen |Madalina Iacob |Kunyi Yang |Ben Miller
Big Lots and its investment bank Guggenheim Securities are running a competitive process to secure the best terms from suitors ahead of a potential bankruptcy filing, said two sources familiar with the matter.
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Jul 22, 2024 | 
ionanalytics.com | Kunyi Yang |Bhavna Kaul |Jay Antenen |Ben Miller
News (Intelligence) Big Lots is working with investment bank Guggenheim to explore strategic options as the retailer comes under pressure to remain in compliance with financial covenants, said two sources familiar with the matter.
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Jun 25, 2024 | 
ionanalytics.com | Nicholas Morgan |Jay Antenen |Bhavna Kaul |Ben Miller
News (Intelligence) MOD Super Fast Pizza is exploring a sale as the once-rapidly growing fast-casual chain closes locations across the United States, said four sources familiar with the situation.
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Apr 24, 2024 | 
ionanalytics.com | David Orbay-Graves |Jay Antenen |Ben Miller
An ad hoc group of Ardagh bondholders has appointed Akin as their legal advisor, according to two sources familiar with the matter. The crossholder group has exposure to secured, unsecured and PIK notes issued by the Luxembourg-headquartered packaging company. Separately, the first and a third source said Franklin Templeton – a significant holder of Ardagh’s debt – has decided to act independently of two groups that had been previously formed.
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Mar 21, 2024 | 
ionanalytics.com | Madalina Iacob |Jay Antenen |Adam Samoon |Ben Miller
An ad hoc group of secured noteholders across Ardagh’s capital structure is working with Perella Weinberg Partners (PWP) as financial advisor, as the company is under pressure to address a slew of maturities in the coming years, said two sources familiar. The group is also working with Gibson Dunn as legal counsel, while the company has tapped Kirkland & Ellis and Houlihan Lokey as advisors. Meanwhile, a crossover group of unsecured holders is working with Milbank, the sources continued.
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Mar 20, 2024 | 
ionanalytics.com | Kunyi Yang |Jay Antenen |Ben Miller
Market participants are debating the actual value of Office Properties Income Trust’s (OPI) real estate as the REIT comes under pressure to handle upcoming debt maturities at a time of great turmoil in the commercial real estate market, said several sector advisors and sellsiders. The listed REIT is under the gun to figure out how to refinance its USD 650m 4.5% senior unsecured notes due next February and USD 650m of unsecured debt due in 2026 and 2027.
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Feb 16, 2024 | 
ionanalytics.com | Lucy Monteiro |Jay Antenen |Álvaro Ledgard |Ben Miller
An ad hoc group of holders of Volcan Compania Minera‘s(Caa3/CCC-) outstanding USD 365m 4.375% 2026 bonds has hired Houlihan Lokey as financial advisor and Davis Polk & Wardwell as legal advisor ahead of a potential debt renegotiation, according to two sources familiar with the matter. The Peruvian mining company said it was working on a reprofiling of both its USD 400m syndicated loan and the 2026 bonds.
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Feb 7, 2024 | 
ionanalytics.com | Jay Antenen |Ben Miller
JOANN is working with Gordon Brothers to negotiate store leases as the specialty retailer looks to align costs with sales generated at the locations, a spokesperson for JOANN said. The Leonard Green-backed company, which describes itself as the largest fabrics retailer in the US with over 850 stores in 49 states, has seen its share price trade under USD 1 for months and its first lien loan quoted in the single digits on concerns about its leverage and financial performance.
